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Banking and Foreclosure

Price, Meese, Shulman & D'Arminio is frequently called upon by major regional and non-institutional lenders for the diverse services we offer in connection with real estate, asset-based, construction and term loans and refinancings. We are experienced in both secured and unsecured debt financings. When necessary, we work with the attorneys in our Commercial Litigation or Bankruptcy/Creditors Rights departments to represent lenders in the restructuring or modification of delinquent loans, or assist in negotiating new loans to resolve a particular problem.

Additionally, we are often retained as local counsel by out of state financial institutions, insurance companies and other lenders to provide advice as to local law, particularly in connection with property-based transactions. We also represent mortgage companies in terms of their lending and litigation needs and furnish advice to lenders in connection with regulatory, employment, environmental and real estate law matters. One area which evidences how we are a full service law firm is found in our land use attorneys who are called upon to represent many local area banks with respect to their branch office expansions as well as in their construction lending activities.

We also represent borrowers of every size and type, affording skilled counsel in all facets of loan transactions. Our services include term sheet review and negotiation, due diligence and title review, the preparation or negotiation of specialized lending and security agreements, corporate and title document preparation, bridge loans, and the attendance at commercial and residential loan closings. The Firm also provides litigation services to the financial industry, particularly in the area of secured debt and lender liability cases, and, in addition, offers advice to its commercial and individual clients with respect to their financing and lending needs.

In the foreclosure area, our experienced staff handles all manner of commercial and residential foreclosures, with our outstanding paralegal staff assisting our foreclosure attorneys through every step of the process, from demand letter and/or notice of intent to foreclose through sheriff’s sale, in order to insure that our services are cost-efficient, competitive, and most importantly, performed according to the letter of the law.

We also represent holders of residential and commercial tax sale certificates in the foreclosure of the tax certificates under New Jersey’s Tax Sale law, N.J.S.A. 54:5-1 et seq. Tax foreclosure, which is distinctly different than mortgage foreclosure, requires strict adherence to the complex procedural rules as set forth in the governing statute. Our tax foreclosure attorneys are well versed in the statute and the applicable rules so that clients can be assured of its title when a final judgment is obtained.

We pay special attention to details of title in order to insure that our client’s lien position is superior and to be able to resolve any other matters which could impact upon the ability to pass good title upon resale. Our attorneys are also qualified bankruptcy practitioners, and able to navigate those proceedings, when necessary, with the goal of returning the matter to the foreclosure forum as expeditiously as possible. Additionally, we are able to provide timely status reports and issue reminders and updates to our clients upon demand. We pride ourselves in being able to move a foreclosure matter through the New Jersey courts in an amount of time which is superior even to those firms for whom foreclosure is the only, or major, portion of their practice, especially with respect to commercial foreclosures.